Home Depot (NYSE:HD – Get Free Report) had its target price lifted by Wells Fargo & Company from $385.00 to $400.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the home improvement retailer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 12.37% from the stock’s current price.
Several other research firms have also issued reports on HD. Stifel Nicolaus raised their price objective on Home Depot from $306.00 to $355.00 and gave the company a “hold” rating in a research note on Wednesday, December 20th. Royal Bank of Canada lowered their price objective on Home Depot from $303.00 to $299.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 15th. Wedbush raised Home Depot from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $330.00 to $380.00 in a research note on Wednesday, January 10th. Truist Financial increased their price target on Home Depot from $356.00 to $387.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.17.
Check Out Our Latest Report on HD
Home Depot Stock Performance
Home Depot stock traded down $9.49 during mid-day trading on Tuesday, reaching $355.96. 1,670,209 shares of the stock traded hands, compared to its average volume of 2,966,389. The stock has a market capitalization of $354.27 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. The company has a debt-to-equity ratio of 28.37, a current ratio of 1.30 and a quick ratio of 0.33. Home Depot has a 12-month low of $274.26 and a 12-month high of $368.72. The business’s 50-day moving average is $349.61 and its 200-day moving average is $324.21.
Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.06. Home Depot had a return on equity of 1,339.65% and a net margin of 10.22%. The firm had revenue of $37.71 billion during the quarter, compared to analyst estimates of $37.59 billion. During the same quarter in the prior year, the company posted $4.24 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Home Depot will post 15.03 EPS for the current fiscal year.
Insiders Place Their Bets
In other Home Depot news, EVP William D. Bastek sold 1,612 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $313.90, for a total transaction of $506,006.80. Following the completion of the sale, the executive vice president now directly owns 17,966 shares in the company, valued at approximately $5,639,527.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP William D. Bastek sold 1,612 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $313.90, for a total transaction of $506,006.80. Following the transaction, the executive vice president now directly owns 17,966 shares in the company, valued at approximately $5,639,527.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Kimberly R. Scardino sold 1,375 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $306.51, for a total value of $421,451.25. Following the transaction, the chief accounting officer now owns 6,744 shares in the company, valued at $2,067,103.44. The disclosure for this sale can be found here. In the last three months, insiders sold 3,114 shares of company stock worth $966,456. Corporate insiders own 0.19% of the company’s stock.
Institutional Trading of Home Depot
Large investors have recently modified their holdings of the stock. Bare Financial Services Inc acquired a new stake in Home Depot in the fourth quarter valued at about $26,000. VisionPoint Advisory Group LLC purchased a new stake in Home Depot in the 2nd quarter worth approximately $26,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $31,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter valued at $27,000. Finally, PFG Private Wealth Management LLC boosted its holdings in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.
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